How do smes succeed in international business

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Reference no: EM13800607

How do SMEs succeed in international business despite resource limitations?

• Compared to large NINES, smaller firms are often more innovative and adaptable and have quicker response times when it comes to implementing new ideas and technologies and meeting customer needs.

• SMEs are better able to serve niche markets around the world that hold little interest for MNEs.

• Smaller firms are usually avid users of information and communication technologies, including the Internet.

• As they usually lack substantial resources, smaller firms minimize overhead or fixed investments. They rely on external facilitators, such as FedEx and DEL, as well as independent distributors in foreign markets.

• Smaller firms tend to thrive on private knowledge that they possess or produce. They access and mobilize resources through their cross-border knowledge networks or their international social capital.

Reference no: EM13800607

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